Bitte verwenden Sie diesen Link, um diese Publikation zu zitieren, oder auf sie als Internetquelle zu verweisen: https://hdl.handle.net/10419/115345 
Erscheinungsjahr: 
2015
Schriftenreihe/Nr.: 
ADBI Working Paper No. 528
Verlag: 
Asian Development Bank Institute (ADBI), Tokyo
Zusammenfassung: 
Credit creation in the housing market has been a key source of systemic financial risk, and therefore is at the center of the debate on macroprudential policies. The loan-to-value (LTV) ratio is a widely used macroprudential tool aimed at moderating mortgage loan creation, and its effectiveness needs to be estimated empirically. This paper is unique in that it analyzes the effect of LTV on mortgage lending, the direct channel of influence, using a large sample of banks in 10 Asian economies. It uses estimation techniques to deal with the large presence of outliers in the data. Robust-to-outlier estimations show that economies with LTV polices have expanded residential mortgage loans by 6.7% per year, while non-LTV economies have expanded by 14.6%, which suggests LTV policies have been effective.
Schlagwörter: 
loan-to-value policy
residential mortgage loans
macroprudential policy
financial risk
JEL: 
C23
E58
G21
G28
Dokumentart: 
Working Paper

Datei(en):
Datei
Größe
665.97 kB





Publikationen in EconStor sind urheberrechtlich geschützt.